Just a heads up.
Our situation is in the blue box right now.
A short term breakdown is possible (not guaranteed) as Ethereum is creating a right shoulder.
There is also a H&S pattern on the ETHBTC chart as well upon inspection.
Keep an eye for a breakdown.
If Ethereum goes to 0.075 BTC, my chart will probably be accurate.
And we COULD hit 685 USD before going parabolic and breaking neckline.
If you disagree or agree, you can leave some feedback. Thanks for looking.
Our situation is in the blue box right now.
A short term breakdown is possible (not guaranteed) as Ethereum is creating a right shoulder.
There is also a H&S pattern on the ETHBTC chart as well upon inspection.
Keep an eye for a breakdown.
If Ethereum goes to 0.075 BTC, my chart will probably be accurate.
And we COULD hit 685 USD before going parabolic and breaking neckline.
If you disagree or agree, you can leave some feedback. Thanks for looking.
Note
Note: I do not recommend selling any of your core position and then trying to buy cheap. If you are going to go with my chart, I would just place a few limit buys at 705 area, and maybe one long shot at 640. If it doesn't hit, it doesn't hit. If it hits, you will most likely profit.That said, ETH is breaking the 100 day EMA on the ETHBTC chart (currently it's at 0.076 BTC), but only because BTC is rising (while ETH is still stable). I just find it unlikely that BTC will continue to rise while ETH stays stable. Lot of people will decide to sell their ETH to chase BTC gains, so ETH will PROBABLY drop in USD short term as well.
Just my thoughts. Long term outlook is still good.
And although I gave specific limit buy order recommendations, I am not trying to give any financial advice. It's just how I'm personally playing the market. I paid for a core position, and now trying to make trades to get a discount on my core position or if I'm lucky I'll have my core position for free. That's about it, have fun and good luck.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.